MegaETH developer MegaLabs has raised $10 million through the Echo platform. Shuyao Kong, co-founder of MegaLabs, said the round was structured as an equity plus token warrant, the same as MegaLabs' $20 million seed round in June. In addition, both rounds were valued at "hundreds of millions of dollars." MegaLabs is preparing to launch MegaETH, which it describes as the "first real-time blockchain" that is fully compatible with Ethereum. The blockchain promises to process transactions as soon as they are received and publish updates in real time. MegaETH is currently in the private testnet phase and plans to launch a public testnet and mainnet in the near future. Funds raised through Echo will be used for community development and support ecosystem projects to achieve product and market fit.